Congress questions Modi government’s silence on ICICI bank ‘fraud’

Congress spokesperson Pawan Khera also asked would acting Finance Minister Piyush Goyal, who himself has been accused of conflict of interest and impropriety, order an investigation asking every CEO of private banks to declare their relationship with any loanee.

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Congress on Monday questioned the Modi government’s “silence” and “non-interference” on the ICICI issue. (Representational)

In view of fresh allegations levelled by a whistleblower against ICICI Bank CEO Chanda Kochhar over loan fraud, Congress on Monday questioned the Modi government’s “silence” and “non-interference” on the issue, asking why it didn’t order a probe. “Instead of oversight, audit, regulations and protection of interests of account holder’s depositors, stakeholders and shareholders, Modi government is busy protecting its crony friends,”
Congress spokesperson Pawan Khera told media persons here.

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“Why did the government not order a thorough probe when the news reports and whistleblower’s letters to the Prime Minister emerged as early in March this year? What explains the complete silence and the declared non-interference of the Modi government in this saga of ICICI Bank frauds?” he asked.

Khera also asked would acting Finance Minister Piyush Goyal, who himself has been accused of conflict of interest and impropriety, order an investigation asking every CEO of private banks to declare their relationship with any loanee.

Noting that the government itself has admitted that NPAs of all banks have risen by 230 per cent — from Rs 2,51,054 crore in March 2014 to Rs 8,31,141 crore in December 2017, he said that lack of oversight and regulatory mechanisms have precipitated into massive bank loot scams worth Rs 61,036 crore and have eroded the trust of the common people in banks.

“The Rs.2,849 crore exposure of the ICICI Bank and the behind the scenes murky deals questions the role of its CEO in one such saga of banking fraud,” he added.